Brokerages expect RPC, Inc. (NYSE:RES) to post sales of $387.74 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for RPC’s earnings. The lowest sales estimate is $293.30 million and the highest is $422.10 million. RPC posted sales of $143.00 million in the same quarter last year, which suggests a positive year over year growth rate of 171.1%. The firm is expected to issue its next quarterly earnings results on Wednesday, July 26th.
On average, analysts expect that RPC will report full year sales of $387.74 million for the current fiscal year, with estimates ranging from $1.20 billion to $1.90 billion. For the next year, analysts anticipate that the company will report sales of $2.30 billion per share, with estimates ranging from $1.48 billion to $2.82 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow RPC.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, April 26th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. RPC had a negative net margin of 19.38% and a negative return on equity of 16.10%. The firm had revenue of $298.12 million for the quarter, compared to the consensus estimate of $273.35 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. The company’s quarterly revenue was up 57.7% compared to the same quarter last year.
Several analysts recently weighed in on RES shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $26.00 target price on shares of RPC in a report on Friday. Zacks Investment Research raised shares of RPC from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, March 15th. FBR & Co reaffirmed a “buy” rating and issued a $24.00 target price on shares of RPC in a report on Sunday, March 12th. Tudor Pickering started coverage on shares of RPC in a report on Thursday, March 23rd. They issued a “buy” rating on the stock. Finally, Wolfe Research cut shares of RPC from an “outperform” rating to a “market perform” rating and set a $20.00 target price on the stock. in a report on Monday, April 17th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $23.00.
Several institutional investors have recently made changes to their positions in the company. Impala Asset Management LLC acquired a new position in shares of RPC during the fourth quarter worth about $2,972,000. RR Advisors LLC raised its position in shares of RPC by 149.6% in the fourth quarter. RR Advisors LLC now owns 312,000 shares of the oil and gas company’s stock worth $6,165,000 after buying an additional 187,000 shares during the period. Elkfork Partners LLC acquired a new position in shares of RPC during the fourth quarter worth about $164,000. Trexquant Investment LP raised its position in shares of RPC by 41.3% in the fourth quarter. Trexquant Investment LP now owns 40,200 shares of the oil and gas company’s stock worth $796,000 after buying an additional 11,746 shares during the period. Finally, Federated Investors Inc. PA raised its position in shares of RPC by 52.1% in the fourth quarter. Federated Investors Inc. PA now owns 23,005 shares of the oil and gas company’s stock worth $456,000 after buying an additional 7,881 shares during the period. Institutional investors and hedge funds own 37.31% of the company’s stock.
Shares of RPC (RES) traded up 5.01% on Thursday, hitting $20.34. 1,882,353 shares of the stock were exchanged. The company’s 50 day moving average is $18.69 and its 200-day moving average is $19.66. RPC has a 52-week low of $13.50 and a 52-week high of $23.36. The stock’s market cap is $4.43 billion.
RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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